Five tips to help you remortgage

Experts expect interest rates to start moving up this year as inflationary pressures mount, so 2011 may be a good time to think about a remortgage. If you are one of those looking at the possibility, here are five tips to ease the remortgage process.

Read also: Is 2011 the year to remortgage?

Seek advice

With money so tight, it's never been more important to seek financial advice. A broker will help you find the product most suited to you and can guide you through the lender requirements. Go to

Shop around

While seeking advice is imperative, so is doing your own research. Some products are only offered direct through lenders, so brokers won't have access to them. Only by combining expert advice and your own research can you be sure you find the best deal.

Snap up rates

Many mortgage products are only available for a short period. In recent weeks some lenders, including Lloyd's Banking Group, even launched One Week Products - mortgages that were only available for seven days. If you find the rate you want, make sure you snap it up.

Don't feel tied to your lender

Your current lender should be your first port of call. See what it can offer you, but don't feel under pressure to stay with it if you can find a better deal elsewhere.

Don't overestimate the value of your home

Most of us base the value of our home on local 'for sale' prices, but a surveyor will do a valuation for a lender using 'sold' prices. We often tend to think our home is worth more than it really is, and this can cause problems when it comes to remortgaging.

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